Bank account freezing requires statutory authority; anti-money-laundering compliance and KYC monitoring do not permit unilateral indefinite restrictio...
Handicraft job work receives concessional GST only for registered principals and predominantly handmade goods; commercial resin articles remain taxabl...
Reopening of assessment u/s 147 - Unexplained loan transaction - If it emerges from the reasons recorded, which, in turn, are based on some cogent material, that the AO had prima facie reason to believe about income escaping assessment, the matter ends there insofar as the initiation of reassessment proceedings is concerned. No fault can be found with the jurisdiction of the AO to initiate reassessment. - no hesitation in countenancing the view of the ld. CIT(A) that the assessee received accommodation entry of loan - AT
Reopening of assessment u/s 147 - Unexplained loan transaction - If it emerges from the reasons recorded, which, in turn, are based on some cogent material, that the AO had prima facie reason to believe about income escaping assessment, the matter ends there insofar as the initiation of reassessment proceedings is concerned. No fault can be found with the jurisdiction of the AO to initiate reassessment. - no hesitation in countenancing the view of the ld. CIT(A) that the assessee received accommodation entry of loan - AT
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